Snapshot Voting Period Changes

Snapshot Voting Period Changes

As the number and activity of Tracer DAO’s governors grow and we approach the launch of Tracer Perpetual Swaps, we believe that it is desirable to implement a more efficient voting process. The current voting process is the following:

  1. Proposal pushed from Proposal Lobby to Snapshot for voting to commence;
  2. Voting period is open for 5-7 days after being pushed to Snapshot;
  3. Voting is then closed, followed by a cool-down period of 2 days; and
  4. Proposal is ready to be pushed on-chain after the cool-down.

As stated in Tracer DAO’s Participation Agreement, the Proposal Voting Period started at 3 days. Since the introduction of Snapshot, it has taken at least 7-9 days before a proposal can be executed on-chain. The majority of the voting activity seen in Tracer DAO’s recent proposals has occurred within 2 days of the voting period opening (see proposal data below). Maintaining the cooldown period while shortening the Snapshot voting period will allow for proposals to be executed in a shorter amount of time (at least 4 days).

For these reasons, the following voting process will be implemented:

  1. Proposal pushed from Proposal Lobby to Snapshot for voting to commence;
  2. Voting period is open for 2 days after being pushed to Snapshot;
  3. Voting is then closed, followed by a cool-down period of 2 days; and
  4. Proposal is ready to be pushed on-chain after the cool-down.

We will continue to observe voting behaviour following this change and evaluate whether Tracer DAO’s voting process can be improved further. Let us know your thoughts below.

Proposal Data

Snapshot Proposal #6
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Snapshot Proposal #9
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Snapshot Proposal #10
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3 Likes

I think, instead of unilaterally limiting every vote to 2 days, we should have a “fast-track” of 2 days for urgent issues. And non-urgent issues can fallback to the default of 5-7days.

We’ll also need to define what kind of votes can/should be fast-tracked.

But IMO, if we want fast responses, a yTeams approach would be much faster than any fast-track implementation. (Context)

Each team has its own budget and can deal with it how it pleases, reducing decision time down to coordination of multisigs.


For some more context on voting windows:

  • Badger: 1-3 days
  • PieDAO: 1-7 days
  • Balancer: 2 days
  • Cream: 3 days
  • Yearn: 5-7 days
  • Curve : 7 days
  • Gnosis: 7 days
1 Like

Hi @Beepidibop. I agree with the need for a more optimised solution, however, there would need to be some work done on clearly defining criteria for fast-tracking a proposal (emergencies? etc.).

As Tracer DAO’s governance scales, we will be able to detect and analyse further voting trends which will further optimise it’s governance system.